Path to offer premium service and virtual goods

Path, a social mobile application that helps users connect with their friends, says it plans to shift more toward a “freemium” business model and expand its paid-for offerings in 2013. Path CEO Dave Morin told TechCrunch that the company is looking to mimic a similar formula seen by businesses such as Spotify, Evernote and Dropbox, who all offer a free service and paid premium service. This is a necessary approach for Path to potentially add some revenues.

Morin assured to its users that Path’s new vision won’t interrupt the thing that makes the social networking platform so unique, as the company’s current state will remain intact, saying “A business model is important, but we want to be in a trust relationship with users.”